Is Black Friday still a hit?

Is Black Friday still a hit?

Since at least the 1930s, Black Friday or the day following Thanksgiving Day in the United States has been regarded as the beginning of the Christmas shopping season. Lately, the weekend’s purchasing rush became widespread in Europe as well.

While generating considerable sales in the past, Black Friday has lost its old „charm“ due to shifts in consumer behavior. Shoppers are taking advantage of the possibility to shop when they want, and how they want.
More people shopped online over the Thanksgiving weekend than in real stores, according to a closely watched survey released by retail’s biggest trade group, the National Retail Federation.

The other reason for interest decline might be “a broad and deep expectation” among shoppers that sales and promotions will continue far beyond Black Friday, and less of an imperative to spend over the weekend.
The importance of Black Friday has long been more myth than fact. It is generally not the year’s biggest shopping day.
Black Friday’s importance has decreased even further in recent years, as retailers offered holiday sales earlier and longer. Some industry experts have questioned whether the holiday season itself is losing significance as retailers offer sales and introduce promotions all year round.

Marketers need to think about their audiences to figure out how, when, or even whether to take advantage of the discount days, says the National Retail Federation.
Brands should evaluate who they're trying to reach this weekend before figuring out a strategy.
The impact of social media should not be neglected, most promotions have to be extended on these platforms.
When trying to reach target audiences over the next few days, it is just as important to track where to reach them. Those going after older generations, should think about opening stores on Thanksgiving night. Of the 25-to-34-year-olds surveyed by the NRF, nearly one-third said they plan on shopping after dessert this year.
Additionally, one of the top priorities for retailers this holiday season is to improve their mobile apps and websites, taking into account that about 50% of emails sent by retailers to consumers are opened on smartphones, according to NRF research.

The NRF's Holiday Consumer Spending Survey, conducted by Prosper Insights and Analytics, also revealed that 21.4% of shoppers will use their smartphones to purchase holiday items this year, which is the highest amount since 2011. One in five people surveyed said they plan on using their mobile devices to look up product availability in stores.

Sources:
www.adage.com
www.nytimes.com

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